California BanCorp Third Quarter 2024 Earnings: EPS Misses Expectations

California BanCorp (NASDAQ:BCAL) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$15.2m (down 37% from 3Q 2023).
• Net loss: US$16.5m (down by 351% from US$6.56m profit in 3Q 2023).
• US$0.59 loss per share (down from US$0.36 profit in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

California BanCorp EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 51%.

Looking ahead, revenue is forecast to grow 39% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's share price is broadly unchanged from a week ago.

Valuation

Our analysis of California BanCorp based on 6 different valuation metrics shows it might be undervalued. Click here to find out what a fair price for the stock might be and where analysts see the share price heading over the next year.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.